Bluebox Security nets $18 mln Series B funds

Bluebox Security said Wednesday that it has raised $18 million in Series B financing. The investors in this round included Tenaya Capital as well as return backers Andreessen Horowitz, Sun Microsystems‘ co-founder Andreas Bechtolsheim and SV Angel. Headquartered in San Francisco, Bluebox Security is a provider of mobile data security solutions.

PRESS RELEASE

SAN FRANCISCO, CA – February 19, 2014 – Bluebox Security launched today with the first mobile data security solution to provide visibility and protection of corporate data – at rest or in transit – across any mobile application on iOS or Android. With BlueboxTM, enterprises can trust mobile while giving employees the freedom and privacy they need to be productive.
According to a recent study, 9 out of 10 Americans use their smartphones for work each day.[i]
By 2016, the number of smartphones is expected to surpass the number of people on the planet.[ii] Despite the rapid proliferation of user-owned mobile devices into today’s businesses, only a small percentage of companies have a BYOD policy in place and most lack a complete solution for mobile data security.
“Today’s MDM and MAM solutions are at odds with the way mobile employees actually work, and fall short in the area of securing data and application access,” said Mike Kail, Vice President, IT Operations, Netflix. “Offering an innovative approach, Bluebox delivers a frictionless user experience that allows easy enrollment, employees to securely choose their preferred apps, and respects privacy based on the true separation of professional and personal data. When combined with their real-time insights into actual mobile data usage that provide strategic policy insights, my team trusts that our data is protected. If you really want to embrace Enterprise Mobility, Bluebox is the only solution that provides all the benefits of work/life integration on a single device for both the enterprise and the user.”
Built on its patented ‘data-wrapping’ technology, the Bluebox SaaS mobile data security solution delivers:
‧ Complete visibility of corporate data as it moves throughout the mobile workflow. With Bluebox, CISOs gain strategic insights into the ‘who, what, where, when and how’ of corporate data. CISOs can inform and dynamically tune security policies based on actual mobile data use, and respond in real-time to security events with surgical precision or comprehensive action to delete, suspend, or lock documents, users, applications, or devices. Now security teams have the tools they need to ensure their mobile security is current and relevant to actual usage and threats.
‧ Comprehensive security across the device, application, and network. Bluebox identifies and dynamically encrypts corporate data on the device, and in applications, as well as secures corporate data traffic end-to-end, from devices to cloud-based and internal applications. Bluebox also automatically detects and protects against platform-level vulnerabilities, application tampering, and jailbreaks for device and app integrity.
‧ Freedom and privacy for security that employees embrace. Bluebox gives employees the freedom to use any application, maximizing productivity without compromising security. Bluebox’s Instant App Protect secures on-demand any internal or public mobile app, no SDKs or coding required. A transparent privacy dashboard combined with clear separation of corporate and personal data gives employees full visibility into what IT is, and isn’t, tracking.
“The end user doesn’t want to have to care about security and privacy,” wrote Tyler Shields, Senior Analyst, Forrester in a recent blog post. “They expect privacy to be ‘taken care of’ and to be provided to them as a natural right. To be successful, security products must be transparent and seamless.”[iii]
“Data goes everywhere in today’s mobile world,” said Caleb Sima, co-founder and CEO, Bluebox Security. “And you can’t secure what you can’t see. We built Bluebox based on feedback from enterprises and employees, which boiled down to two success drivers. First, provide visibility and security of the data so that enterprises trust they are protected on mobile. Second, provide a native and transparent user experience that aligns with the demands of today’s mobile workers. Now CISOs and employees are partners in enabling mobile security.”
“We are constantly anticipating threats we may face and preparing methods to tackle them in ways that enable our employees, thereby reducing employee frustration,” said Bryan Strong, SVP, Director of Information Security at Zions Bank. “Mobile security is top of mind for us, as it is for all enterprises. Bluebox’s innovative approach to securing data could allow us to rethink our current Mobile Device Management and Mobile Application Management security approach. Bluebox’s ability to respect employee privacy and allow freedom of choice to use any application without compromising security is a great model for mobile security to adopt.”
Since its founding in 2012, Bluebox has gathered a world-class team with deep expertise in information security – the same team behind the discovery of the Android “master key” exploit as well as a number of Beta users from the Global 2000. Bluebox recently announced a Series B financing round, bringing its total capital raised to $27.5 million.
Watch Bluebox compete in RSA’s 2014 Innovation Sandbox on Monday, February 24.
Join us for a free lunch at RSA and to experience the new era of mobile security for yourself.
Additional Resources
● Follow Bluebox on Twitter @BlueboxSec
● Subscribe to the Bluebox blog
● Learn more at http://www.bluebox.com
About Bluebox Security
Founded in 2012 by a team of security experts, Bluebox Security offers the first mobile data security solution to safeguard corporate data across the device, application, and network. The cloud-based solution provides complete visibility and security of corporate data, while providing employees the freedom, ease of use, and privacy that ensures widespread adoption. Bluebox Security has received a total of $27.5 million in funding from Andreessen Horowitz, Tenaya Capital, Sun Microsystems co-founder, Andreas Bechtolsheim, SV Angel, and Google Board member Ram Shriram. The company is headquartered in San Francisco. For more information visit www.bluebox.com or follow us on Twitter @blueboxsec.

You are now subscribed to the PEHub Wire and Top Stories of the Week newsletters.

Buyouts Insider/Argosy Group LLC produces several free newsletters that are sent directly to the email you provide at registration (namely, PE Hub Wire, PE Hub Canada Wire, PE Hub Wire Top Story of the Week, Buyouts Daily, and VCJ Alert). To enable us to keep providing these services free of charge, we reserve the right to contact you with special invitations to sample or purchase private equity-related products.

By submitting this free subscription request for any of these products, you are also consenting to this communication. Should you ever wish to unsubscribe from a particular communication you may activate the unsubscribe mechanism at the bottom of the email. This will discontinue both the special invitations mentioned previously, as well as your subscription to the weekly newsletter. The information you provide will be safeguarded by Argosy Group LLC/Buyouts Insider. The company’s subsidiaries may use it to keep you informed of relevant products and services. We occasionally allow reputable companies outside of the company to mail details of products which may be of interest to you. As an international group, we may transfer your data on a global basis for the purposes indicated above.

WE WILL NEVER SHARE YOUR EMAIL OR CONTACT DETAILS WITH ANY OUTSIDE COMPANY HOWEVER.

Should you have any questions please do not hesitate to contact us: [email protected].